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Last Document: August 29, 2014

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The New Straits Times, August 29, 2014

News

Tropicana Profit Jumps by Hefty 133pc

PETALING JAYA: PROPERTY developer Tropicana Corp Bhd posted a hefty 133.4 per cent jump in net profit in the second quarter ended June 30 to RM89.5 million from RM38.3 million a year ago, on the back of new launches and land sale. In the quarter under review, the group recorded a revenue of RM355.9 million compared with RM362 million previously.

Mah Sing Plans Puchong Project with Rm9.3b Gdv

KUALA LUMPUR: Mah Sing Group Bhd is paying RM656.9 million for 35.66ha in Puchong, Selangor, and plans to develop it into an integrated mixed project boasting RM9.3 billion in gross development value (GDV), which will be the group's largest project. It is the first plot out of 104.23ha near IOI Mall in Puchong that Mah Sing has agreed to buy, or jointly develop, from an unnamed vendor.

Myipo Paves Way Forward with Ipr Marketplace

MyIPO, as part of its mandate to drive and build a vibrant Intellectual Property (IP) ecosystem, in support of the various IP financing and IP valuation initiatives, recently launched the IP Rights Marketplace portal. The IPR Marketplace (www.iprmarketplace.com.my) enables IP owners to put their patents, industrial designs, copyrights and trade marks up for sale or out-licensing or collaborate with others by buying or in-licensing IP rights.

Umw Target Price at Rm12.31

CIMB Research has assigned a "hold" rating on UMW Holdings Bhd, with a RM12.31 target price following improved overall performance. UMW's first-half (H1) core net profit made up 51 per cent of CIMB Research's full-year forecast and 50 per cent of consensus.

Shareholders to Gain From I-Berhad Exercise

SHAH ALAM : MINORITY shareholders of I-Berhad stand to benefit from the company's corporate exercise due to attractive pricing of its rights issue and irredeemable convertible unsecured loan stock (ICULS). The company on Wednesday announced details of the fundraising scheme involving rights issue, bonus issue and landbank acquisitions.

Midf `Neutral' On Axiata Outlook

MIDF Research has reaffirmed its "neutral" call on Axiata Group Bhd with a RM6.55 target price as the PT Axis Telekom Indonesia (Axis) acquisition negatively impacted earnings. According to MIDF, Axiata's second quarter (Q2) 2014 normalised earnings decreased by 1.5 per cent year-on-year.

Rhb Capital's `Hold' Call Stays

AMRESEARCH Sdn Bhd has kept its "hold" rating on RHB Capital Bhd on accelerated pace of improvement in targeted segments, with a higher fair value of RM9.18 per share, from RM7.40 per share previously. "Our new fair value is based on a possible merger scenario of RHB Capital taking over CIMB in the proposed mega bank merger, and its book value being potentially and substantially uplifted to RM9.18 per share," AmResearch said in its report.

Riding On Real Estate Investment Trusts

KUALA LUMPUR: REAL Estate Investment Trust (REIT) is the best ally when it comes to a balance of risk-return for long-term value investing. The fact is, predictability is what REIT stocks offer. While the dividend per share (DPS) of many dividend-paying companies (including blue chips) were affected post-2008 recession, the DPS of many Malaysian REITs (M-REITS) remained unscathed, which speaks volumes about the competency of the managers and defensiveness of REIT assets.

20,625 Businesses Have Registered Under Gst

KUALA LUMPUR: SERVICES-type businesses have been enthusiastic in registering themselves under the Goods and Services Tax (GST), but large conglomerates are just not coming forward. This was revealed by Customs Department director Datuk Subramaniam Tholasy at Sage Software's GST seminar for accountants, here, yesterday.

Bank Eyes 30,000 Credit Card-I Issuances

KUALA LUMPUR: Bank Rakyat, the nation's second-largest syariah- compliant cooperative bank, aims to issue another 30,000 credit card- i by the end of the year, said its president and managing director Datuk Mustafha Abd Razak. "We are targeting a 10 per cent increase and expect to issue another 30,000 credit card-i this year," said Mustafha after the launch of the 60th anniversary special edition Credit Card-i, here, yesterday.

Drb-Hicom Posts Q1 Net of Rm107.8m

KUALA LUMPUR: DRB-HICOM Bhd's net profit surged to RM107.83 million in the first quarter ended June 30 from RM10.25 million a year ago. Group revenue rose 22 per cent to RM3.72 billion from RM3.05 billion in the same quarter last year, while earnings per share stood at 5.58 sen against 0.53 sen previously.

Axa Affin to Promote Safe Driving with New Mobile App

KUALA LUMPUR: AXA Affin General Insurance Bhd, in its bid to promote safe driving among Malaysians, expects 20,000 downloads for its AXA Drive mobile application within a year. AXA Affin chief executive officer Emmanuel Nivet said "AXA Drive is our innovative way to get drivers to become more conscious of their driving behaviour".

Bimb Hldgs Q2 Profit Rises 86pc

KUALA LUMPUR: BIMB Holdings Bhd's net profit rose a stunning 86 per cent to RM129.6 million in the second quarter to June 30 2014, from RM69.5 million a year ago. Group revenue for the quarter increased to RM734.5 million from RM707.4 million in the same period last year.

Maybank Upbeat On H2 Outlook

KUALA LUMPUR: MALAYAN Banking Bhd (Maybank), which posted a 3.4 per cent increase in net profit in the first six months ended June 30 to RM3.18 billion from RM3.07 billion a year ago, cautiously expects the growth trend to continue in the second half of the year. Revenue for the January-June period increased by 2.5 per cent to RM17.1 billion from RM16.7 billion a year ago.

Above Expectations

KUALA LUMPUR: THE better-than-expected second quarter results turned in by Malaysia Airlines (MAS) yesterday have prompted some analysts to describe the performance as monumental, but they said the national carrier still needed a drastic shakeup. Maybank Investment Bank Bhd analyst Mohshin Aziz said MAS' latest quarter exceeded his expectation of more than RM600 million loss.

Malaysian Companies Invest Rm132.8b Abroad

KUCHING: Malaysian companies invested RM132.8 billion abroad last year, with more than half of the invested value going to the service industry. Malaysia External Trade Development Corporation (Matrade) cross- border division senior director Amran Yem said two main reasons companies invest abroad are to cut their operating costs and to increase their revenue in new markets.

Johor Industrial Investment Hits Record Rm14.9b

JOHOR BARU: Johor recorded RM14.9 billion in industrial investment for the period between January and May this year, said Menteri Besar Datuk Seri Mohamed Khaled Nordin. He said the statistics, issued by the Malaysian Investment Development Authority (Mida), put Johor in first place, followed by Sarawak and Pahang in second and third places, respectively.

Klang Valley Mrt Project Remains On Track

KUALA LUMPUR: THE Klang Valley Mass Rapid Transit (KVMRT) project will be delivered on time by July 2017, despite the recent incident that killed three workers along the transit line, Minister in the Prime Minister's Department Datuk Seri Idris Jala said. Idris Jala said the first phase of the KVMRT project, running from Sungai Buloh to Semantan, is on track to commence passenger service in December 2016.

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